Basic Query

Leopardi

I worked as an independent contractor at a third level institution over recent months. Now that my contract has expired I wish to declare my income to Revenue.

This is the first time I've had to look after my own taxation. What is the easiest and quickest way for me to forward my details?

Squatter

Leopardi wrote: »

I worked as an independent contractor at a third level institution over recent months. Now that my contract has expired I wish to declare my income to Revenue.

This is the first time I've had to look after my own taxation. What is the easiest and quickest way for me to forward my details?

Did you get paid gross or was tax withheld?

Are you currently registered with Revenue as a PAYE employee?

Have you an online revenue account?

Was this employment a once-off or is it likely to recur?

If one-off then you could include the pay in your Form 12 under: "Employments/Offices/Pensions not subject to PAYE deductions"

But if likely to recur then you probably need to register with revenue as self-employed and sign up for ROS.

Leopardi

Squatter wrote: »

Did you get paid gross or was tax withheld?

Are you currently registered with Revenue as a PAYE employee?

Have you an online revenue account?

Was this employment a once-off or is it likely to recur?

If one-off then you could include the pay in your Form 12 under: "Employments/Offices/Pensions not subject to PAYE deductions"

But if likely to recur then you probably need to register with revenue as self-employed and sign up for ROS.

Thanks for the prompt and very helpful reply. Forgive my shameful ignorance but what is the deadline for the submission of my details?

Squatter

Leopardi wrote: »

Thanks for the prompt and very helpful reply. Forgive my shameful ignorance but what is the deadline for the submission of my details?

That depends on your answers to the questions that I asked you above!

Leopardi

Squatter wrote: »

Did you get paid gross or was tax withheld?

Are you currently registered with Revenue as a PAYE employee?

Have you an online revenue account?

Was this employment a once-off or is it likely to recur?

If one-off then you could include the pay in your Form 12 under: "Employments/Offices/Pensions not subject to PAYE deductions"

But if likely to recur then you probably need to register with revenue as self-employed and sign up for ROS.

I was paid gross. I am a PAYE employee with another third level college. I would like to think that this would not be a once-off but as of now my work is finished. I don't have an online account.

Apologies for overlooking your questions initially!

Squatter

Leopardi wrote: »

I was paid gross. I am a PAYE employee with another third level college. I would like to think that this would not be a once-off but as of now my work is finished. I don't have an online account.

Apologies for overlooking your questions initially!

Thanks.

I should also have asked you did you receive the one-off payment in this tax year or last (tax years run like calendar years, from 1 Jan to 31 Dec), but for convenience let's assume that it was in this tax year.

Let's also assume that the gross payment you received was less than €5,001 (if more then see Note 1 below).

Revenue currently considers you to be a PAYE employee. You will need to tell Revenue that you received extra untaxed income during the 2018 tax year by putting this information into your Form 12 for 2018, which you should submit next year before end-October. Revenue are trying to make all of their PAYE customers use their online service, so you should register for Revenue's PAYE employee online service (My Account) and when registered, file your Form 12 online.

When you submit Form 12 online, the system will calculate the amount of income tax, PRSI and USC that you are liable to pay and will instruct you how to pay this amount.

NOTE 1 - if the amount that you received was over €5,000 then you become an Assessable Person meaning that you must self-assess and file a Form 11. In order to do this, you will need to register for Revenue's ROS service.

More detailed info here:-

http://www.citizensinformation.ie/en/money_and_tax/tax/income_tax/how_to_comply_with_your_tax_obligations.html


As you have probably realised by now, your query is anything but "Basic"! so good luck!

Leopardi

Squatter wrote: »

Thanks.

I should also have asked you did you receive the one-off payment in this tax year or last (tax years run like calendar years, from 1 Jan to 31 Dec), but for convenience let's assume that it was in this tax year.

Let's also assume that the gross payment you received was less than €5,001 (if more then see Note 1 below).

Revenue currently considers you to be a PAYE employee. You will need to tell Revenue that you received extra untaxed income during the 2018 tax year by putting this information into your Form 12 for 2018, which you should submit next year before end-October. Revenue are trying to make all of their PAYE customers use their online service, so you should register for Revenue's PAYE employee online service (My Account) and when registered, file your Form 12 online.

When you submit Form 12 online, the system will calculate the amount of income tax, PRSI and USC that you are liable to pay and will instruct you how to pay this amount.

NOTE 1 - if the amount that you received was over €5,000 then you become an Assessable Person meaning that you must self-assess and file a Form 11. In order to do this, you will need to register for Revenue's ROS service.

More detailed info here:-

http://www.citizensinformation.ie/en/money_and_tax/tax/income_tax/how_to_comply_with_your_tax_obligations.html


As you have probably realised by now, your query is anything but "Basic"! so good luck!

Thanks ever so much - your detailed replies are very much appreciated.